MIRA
INFORM REPORT
|
Report Date : |
03.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
NULITH GRAPHIC PRIVATE LIMITED |
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Registered
Office : |
B-2, Amit Industrial Estate, 61, Dr. S.S. Rao Road, Near M.G.
Hospital, Lalbaugh, Mumbai – 400 012,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
25.03.1988 |
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Com. Reg. No.: |
11-046728 |
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Capital
Investment / Paid-up Capital : |
Rs.2.378
Millions |
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CIN No.: [Company Identification
No.] |
u24223mh1988ptc046728 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN10558C |
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PAN No.: [Permanent Account No.] |
AAABN0012H |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer and Exporter of Nulith Graphic Chemicals and Offset PS
Plates. |
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No. of Employees
: |
Approximately 15 (In Office) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 18000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory : |
B-2, Amit Industrial Estate, 61, Dr. S.S. Rao Road, Near M.G.
Hospital, Lalbaugh, Mumbai – 400 012,
Maharashtra, India |
|
Tel. No.: |
91-22-40563939 / 24131218 / 24137042 |
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Fax No.: |
91-22-2413 2208 |
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E-Mail : |
jmgada@yahoo.com |
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Website : |
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Branch Office : |
H–9, Jai Matadi Compound, Kalher, Bhiwani, District Thane,
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mahendra Maganlal Shah |
|
Designation : |
Director |
|
Address : |
505-B, Parijat, 5th Floor, Lallubhai Oark, |
|
Date of Birth/Age : |
01.09.1951 |
|
Date of Appointment : |
25.03.1988 |
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DIN No.: |
00655913 |
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Name : |
Mr. Suresh Maganlal Shah |
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Designation : |
Director |
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Address : |
505-B, Parijat, 5th Floor, Lallubhai Oark, |
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Date of Birth/Age : |
20.10.1961 |
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Date of Appointment : |
25.03.1988 |
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DIN No.: |
00656415 |
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Name : |
Mr. Manesh Maganlal Shah |
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Designation : |
Director |
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Address : |
505-B, Parijat, 5th Floor, Lallubhai Oark, |
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Date of Birth/Age : |
13.09.1966 |
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Date of Appointment : |
25.03.1988 |
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DIN No.: |
00656375 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Suresh Maganlal Shah |
|
6350 |
|
Mahendra Maganlal Shah |
|
6100 |
|
Manesh Maganlal Shah |
|
6100 |
|
Navin C. Shah |
|
5 |
|
Falguni S. Shah |
|
25 |
|
Kasturben C. Shah |
|
5 |
|
Kusum V. Shah |
|
25 |
|
Vijay M. Shah |
|
5100 |
|
Sunderbai M. Shah |
|
25 |
|
Rajan M. Shah |
|
25 |
|
M.P. Shah |
|
25 |
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Total |
|
23785 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Nulith Graphic Chemicals and Offset PS
Plates. |
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Products : |
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GENERAL INFORMATION
|
Suppliers : |
v
Harisons Agencies ( v
J.M. Gada and Associates v
Naigai Ink Manufacturing Company Limited v
Print Chem v
Avani Industries v
TNT India Private Limited v
Durga Enterprises v
United Speciality Inks Private Limited v
Neo Herbals v
Toyo Ink India Private Limited v
C.S. Enterprises |
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Customers : |
v
Ankeet Art v
Amruta Print Art v
Excel Traders v
M.K. Graphics v
Gurudev Packaging v
Eagle Offset v
Modern Machinery Company v
Darshan Graphics v
V.M. Enterprises v
Sony Marketing v
Argon Traders |
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No. of Employees : |
Approximately 15 (In Office) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
J.M. Gada and Associates Chartered Accountants |
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Address : |
1A, Bheda Bhavan, Plot No.22, |
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Tel. No.: |
91-22-25011604/ 5 |
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Email : |
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PAN No.: |
AABPG7483J |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23785 |
Equity Shares |
Rs.100/-
each |
Rs.2.378
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.378 |
2.378 |
2.378 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.102 |
1.198 |
1.162 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.480 |
3.576 |
3.540 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
35.870 |
32.600 |
30.810 |
|
|
TOTAL BORROWING |
35.870 |
32.600 |
30.810 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
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TOTAL |
40.350 |
36.176 |
34.350 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.978 |
4.238 |
4.239 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
|
|
|
Inventories |
14.559
|
15.602
|
18.621
|
|
|
Sundry Debtors |
24.607
|
15.416
|
11.472
|
|
|
Cash & Bank Balances |
(2.650)
|
0.801
|
0.232
|
|
|
Other Current Assets |
0.363
|
1.721
|
1.851
|
|
|
Loans & Advances |
0.000
|
0.000
|
0.000
|
|
Total
Current Assets |
36.879
|
33.540 |
32.176 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.257
|
0.633
|
1.095
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.001
|
|
|
Provisions |
0.250
|
0.969
|
0.970
|
|
Total
Current Liabilities |
2.507
|
1.602
|
2.065
|
|
|
Net Current Assets |
34.372
|
31.938
|
30.111
|
|
|
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
40.350 |
36.176 |
34.350 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
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|
Income |
97.904 |
79.057 |
65.700 |
|
|
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Other Income |
NA |
NA |
0.060 |
|
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TOTAL (A) |
NA |
NA |
65.760 |
|
|
|
|
|
|
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|
Less |
|
|
|
|
|
|
|
|
Cost of Goods Sold |
NA |
NA |
53.239 |
|
|
|
Administrative Expenses |
|
|
7.426 |
|
|
|
Other Expenditure |
|
|
0.149 |
|
|
|
TOTAL (B) |
NA |
NA |
60.814 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
4.946 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
4.651 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
0.295 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
0.268 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.767 |
0.035 |
0.027 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.250 |
0.000 |
0.000 |
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|
|
|
|
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|
|
PROFIT AFTER TAX
(G-H) (I) |
0.517 |
0.035 |
0.027 |
|
|
|
|
|
|
|
|
|
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EARNINGS IN FOREIGN CURRENCY : |
NA |
NA |
0.140 |
|
|
|
|
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|
|
|
|
|
IMPORT VALUE : |
NA |
NA |
19.770 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.73 |
1.49 |
1.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
0.04 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.78
|
0.04 |
0.04 |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.79
|
0.09 |
0.07 |
|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.57
|
9.56 |
9.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.71
|
20.94 |
15.58 |
LOCAL AGENCY FURTHER INFORMATION
WORKING RESULTS:
The working results of the company for the year are as under:
During the year the company made Net Profit of Rs.0.517 million and
achieved turnover of Rs.97.904 millions.
FORM 8
|
Corporate
identity number of the company |
u24223mh1988ptc046728 |
|
Name of the
company |
NULITH GRAPHIC PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-2, Amit Industrial Estate, 61, Dr. S.S. Rao Road, Near M.G.
Hospital, Lalbaugh, Mumbai – 400 012,
Maharashtra, India E-Mail: suresh@nugroup.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10139079 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
CIN No.:
L65920MH1994PLC080618 HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400 013, Maharashtra, India E-Mail: RBBform8@hdfcbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Letter of Hypothecation. |
|
Date of
instrument Creating the charge |
11.08.2011 |
|
Amount secured by
the charge |
Rs.9.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest at the
rate as may be communicated by the Bank from time to time. Terms of
Repayment: on demand Margin: As may be
stipulated by the Bank from time to time. Extent and
Operation of the charge: Hypothecation by
way of First Charge on Company's Stocks, Book Debts etc,
to secure as a continuing security for the repayment of Rs.9.000
millions together with interest, costs, charges, expenses and other moneys
due and payable by the Company to the Bank. |
|
Short particulars
of the property charged |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished goods,
and other merchandise whatsoever being movable properties All the debts,
that is, all the book debts, outstandings, monies receivables, claims, bills,
invoice documents, contracts, guarantees, and rights. |
|
Date of latest
modification prior to the present modification |
21.02.2009 |
|
Particulars of
the present modification |
The Charge shall
now stand increased from Rs.7.000 millions to Rs.9.000 millions against the
security of Stocks and Book Debts of the Company. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10139079 |
|
Corporate
identity number of the company |
u24223mh1988ptc046728 |
|
Name of the
company |
NULITH GRAPHIC PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
105, Amit Industrial Estate, 61, Dr. S.S. Rao Road, Near, M.G.M.
Hospital Lalbaug, Mumbai – 400 012, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
HDFC Bank
Limited- HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental Memorandum
Relating to Hypothecation of Stocks, Book Debts and Machinery. |
|
Date of
instrument Creating the charge |
21.02.2009 |
|
Amount secured by
the charge |
Rs.7.000
Millions. |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Interest at the rate as may be communicated by the Bank from time to time. Terms of
Repayment: On Demand Margin: Company shall
at all times during the continuance of this security maintain the said debts
of a sufficient amount to provide the margin of security as may from time to
time advised by the Bank. Extent and
Operation of the charge: Hypothecation by way of first charge on company’s
stocks, book debts and machinery etc. to secure as a continuing security. |
|
Short particulars
of the property charged |
Hypothecation
first charge over the stocks, book debts and machinery. |
|
Date of latest
modification prior to the present modification |
29.12.2008 |
|
Particulars of
the present modification |
The charge shall
stand increased from Rs.5.000 Millions to Rs.7.000 Millions. |
FIXED ASSETS:
v
Motor Car
v
Fax Machine
v
Computer
v
Mobile Phone
v
Telephone
v
Office Premises
v
Electrical Fittings
v
Furniture and Fixtures
v
T.V. Sets
v
Air Conditioner
v
Weighing Machine
v
Strapping Machine
v
Refrigerator
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.